The Federal Ministry of Women Affairs and Social Development and the Federal Ministry of Industry, Trade and Investment have signed a Memorandum of Understanding (MoU) to boost access to finance for export-ready women entrepreneurs under the African Continental Free Trade Area (AfCFTA).
The agreement was signed at a colloquium on “Women’s Role in Industry, Trade and Investment” themed “Positioning Nigeria to Lead Intra-African Trade”, convened by the Ministry of Industry, Trade and Investment in Abuja.
Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, described the AfCFTA as a major economic opportunity:
“The AfCFTA is no longer a promise. It is a market of 1.4 billion people, a combined GDP of over three trillion US dollars, with trade potential projected to reach 35 percent of total African trade by 2040,” she said.
She stressed that Nigeria cannot lead intra-African trade if women remain under-utilised:
“Women account for 70 percent of Nigeria’s agricultural labour force but access less than 10 percent of formal agricultural credit. They do the work, bear the risk, but the system was not designed to reward them.”
The Minister explained that the MoU will address financial and structural barriers, including:
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Developing programmes under the AfCFTA Protocol on Women and Youth in Trade
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Partnering with Development Finance Institutions to expand access to funding
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Creating a national database of women-owned and women-led enterprises
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Providing capacity-building in export readiness, digital trade, and regulatory compliance
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“This MoU is not a ceremonial gesture. It is a structured, accountable commitment,” she added.
Hajiya Sulaiman-Ibrahim also highlighted the administration’s focus on inclusive economic growth under President Bola Ahmed Tinubu:
“Nigeria’s economic transformation must be inclusive, ensuring women are fully integrated into national and continental trade systems.”
The strengthened collaboration is expected to position Nigerian women as key contributors to productivity, export growth, and enterprise development, while boosting Nigeria’s overall trade performance.
